ixed Deposit Interest Rates: The interest rates on FDs vary according to the tenor of a fixed deposit.

Fixed deposit (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. The funds in these accounts are held for a fixed term, has a specified date of maturity and offer assured returns. From a fixed deposit, the money can be withdrawn only after the term has ended or by giving a predetermined number of days’ notice. The interest rates on FDs vary according to the tenor of a fixed deposit.

Small finance banks (SFBs) offer higher interest rates on FDs as compared to the mainstream peers. For instance, on deposits below Rs. 1 crore, the largest lender of the country, State Bank of India (SBI), offers 6.8 per cent interest for a tenure of one year to less than two years. Ujjivan Small Finance Bank pays 7.5 per cent on a tenor of 180 days to 364 days, Jana Small Finance Bank offers 8.5 per cent for 181-365 days and Equitas Small Finance Bank pays 7.50 per cent for a period of 271 – 364 days

Given below are interest rates offered by large commercial banks and small finance banks on fixed deposits of up to Rs. 1 crore:

State Bank of India (SBI):

Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore as mentioned on bank’s website-sbi.co.in:

Tenors

Revised For Public w.e.f. 28.11.2018

Revised for Senior Citizens w.e.f. 28.11.2018

7 days to 45 days

5.75%

6.25%

46 days to 179 days

6.25%

6.75%

180 days to 210 days

6.35%

6.85%

211 days to less than 1 year

6.4%

6.9%

1 year to less than 2 year

6.8%

7.3%

2 years to less than 3 years

6.8%

7.3%

3 years to less than 5 years

6.8%

7.3%

5 years and up to 10 years

6.85%

7.35%

Source: sbi.co.in

HDFC Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018, according to the bank’s website – hdfcbank.com:

Period

< 1 Crore

Interest Rate (per annum)

Senior Citizen Rates (per annum)

7 – 14 days

3.50%

4.00%

15 – 29 days

4.25%

4.75%

30 – 45 days

5.75%

6.25%

46 – 60 days

6.25%

6.75%

61 – 90 days

6.25%

6.75%

91 days – 6 months

6.25%

6.75%

6 months 1 day- 6 months 3 days

6.75%

7.25%

6 months 4 days

6.75%

7.25%

6 months 5 days- 9 months

6.75%

7.25%

9 months 1 day- 9 months 3 days

7.10%

7.60%

9 months 4 days

7.10%

7.60%

9 months 5 days – 9 months 15 days

7.10%

7.60%

9 months 16 days

7.10%

7.60%

9 months 17 days < 1 Year

7.10%

7.60%

1 Year

7.30%

7.80%

1 year 1 day – 1 year 3 days

7.30%

7.80%

1 year 4 days

7.30%

7.80%

1 year 5 days – 1 Year 15 Days

7.30%

7.80%

1 Year 16 days

7.30%

7.80%

1 year 17 days – 2 Years

7.30%

7.80%

2 years 1 day – 2 Years 15 days

7.40%

7.90%

2 Years 16 days

7.40%

7.90%

2 years 17 days – 3 Years

7.40%

7.90%

3 years 1 day – 5 years

7.25%

7.75%

5 Years 1 Day – 8 Years

6.50%

7.00%

8 Years 1 Day – 10 Years

6.50%

7.00%

Ujjivan Small Finance Bank

These are the FD interest rates paid by the bank on fixed deposits below Rs. 1 crore, according to its website-ujjivansfb.in: